Nickel Daily: The signal of tightening supply reinforces market expectations of a prolonged nickel ore shortage.

PT WBN's initial RKAB quota for 2026 stood at only 12 million tonnes (wet), a year-on-year reduction of over 70%, of which external sales accounted for just 9 million tonnes (wet). Production under this quota was expected to be exhausted by mid-May, and PT WBN had prepared to place its mine under "care and maintenance" status in May while awaiting a quota upward revision. This signal of tightening supply reinforced market expectations of a prolonged nickel ore shortage. SHFE nickel prices traded with strength yesterday, while spot trading activity in China's refined nickel market remained subdued. During the morning session, nickel futures opened higher then moved lower, leading downstream buyers to adopt a wait-and-see stance and making only small essential purchases. Some traders continued to actively sell at large discounts, with low-priced resources finding relatively better transaction volumes, while high-priced material faced difficulty in moving.

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https://www.mysteel.net/event-listings/100067-q2-2026-lithium-and-nickel-will-supply-disruptions-fuel-further-price-hikes